Which of these statements best represents the law of demand?
A) When buyers' tastes for a good increase,they purchase more of the good.
B) When income levels increase,buyers purchase more of most goods.
C) When the price of a good decreases,buyers purchase more of the good.
D) When buyers' demands for a good increase,the price of the good increases.
Correct Answer:
Verified
Q2: Figure 4-1 Q3: A downward-sloping demand curve illustrates Q4: A decrease in the price of a Q5: A movement downward and to the right Q6: "Other things equal,when the price of a Q7: A decrease in the price of a Q8: A movement upward and to the left![]()
A)that demand decreases
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents